Metallurgy news

2009-02-03 10:18:23TMK announces repayment of a syndicated bridge facility TMK announced that it repaid the remainder of the $ 1.2 bln one-year term syndicated bridge facility which was arranged on May 30, 2008 to finance the acquisition of the US tubular business of IPSCO. As previously announced, TMK partly refinanced the syndicated bridge after successfully ...

2009-02-02 14:31:06Ufaleynickel: Production Restart Today, on the 2d of February, Ufaleynickel has restarted the production process after 3 months of the idle time. 3 shaft furnaces have been started up. According to specialists opinion- this quantity is effective for the operation of the enterprise in conditions of low LME official price ...

2009-02-02 13:31:46Estar pins hopes on rise in Q2 Russian demand Estar is planning to boost production levels back up to 60-70% of capacity in the second quarter of the year in anticipation of rising domestic demand, company sources told MB. Estar, part-owned by oligarch Vadim Varshavsky, cut production levels to around half across its nine Russian ...

2009-01-30 15:15:42Usmanov expands on his Russian mining merger vision Metalloinvest main shareholder Alisher Usmanov has taken the initiative from rival oligarchs Oleg Deripaska and Vladimir Potanin by proposing several alternatives to the powerful duo’s original mega merger plan. Norilsk Nickel’s main shareholders, Deripaska and Potanin, have ...

2009-01-29 10:18:35VSW, Gubakha Coke and CMW Report Its Operating Results In 2008, VSW produced 1,395,058 tn of pipes of various grades, which is 18.3% lower than in 2007 (1,707,726 tn). VSW manufactured 734,961 tn of large-diameter pipes (LDP), which is 22% less than in 2007 (943,989 tn). The VSW Wheel Rolling Facility produced 782,874 railroad wheels, or 5% ...

2009-01-28 05:48:09RUSAL converts Krasnoyarsk Aluminium Smelter to colloidal anode paste UC RUSAL announces that it has completed the conversion of one potroom at its Krasnoyarsk Aluminium Smelter (KrAZ) to the colloidal anode paste technology. The economic effect from this innovation at one potroom alone can be up to USD 1 mln annually. The aluminium production technology ...

2009-01-27 15:19:35OMZ Foundry Production Receives ISO 9001:2000 Accreditation OMZ Foundry Production has received an Approval Certificate from the leading international classification organization Det Norske Veritas (DNV) for compliance of its quality management system with ISO 9001:2000. Det Norske Veritas is a world-renowned classification organization, a member ...

2009-01-26 10:56:38Russian steelmakers lobby for 33% galv strip import duty A trio of Russian steelmakers are lobbying the Russian government for an import duty on galvanised strip, sources close to the companies told MB. Severstal, Magnitogorsk Iron & Steel Works and Novolipetsk Steel have asked the Russian Ministry of Industry and Trade for a ...

2009-01-22 17:40:46TMK to Supply Premium Connections to Lukoil TMK was awarded a contract by Lukoil for the supply of TMK FMC and TMK GF premium threaded connections. TMK Premium Service, the only Russian company to produce premium threaded connections, will supply Lukoil with OD 168 mm, 245 mm and 324 mm TMK FMC and GF premium threaded casing of ...

2009-01-22 11:04:09Pyotr Sumin visited Chelyabinsk Metallurgical Plant The visit by Governor Sumin to the CMP was his first trip in a program to assess anti-recessionary measures taken by the cities and industrial enterprises in the region. During the visit the anti-recessionary program being implemented at CMP was discussed. CMP’s construction sites and ...

2009-01-21 10:35:55Sayanogorsk Aluminium Smelter launches a new gas scrubber UC RUSAL has announced the commissioning of a new gas treatment unit at its Sayanogorsk aluminium smelter (SAZ). The project investment amounted to $3.6 mln. The new gas scrubber features excellent environment-saving performance indicators and has been designed for a pilot potroom ...

2009-01-20 14:31:53Evraz renounces licence to develop Mezhegey coal deposit Evraz Group S.A. has renounced the right to purchase the licence to develop the Mezhegey coal deposit in the Republic of Tyva, Russia. The decision is based on the continuing global financial and economic downturn and weakening coal market conditions. In July 2008, Evraz won the tender to ...

2009-01-20 12:07:16Russian government plans tariff changes The Russian Government plans to raise import tariffs on steel tube, pipe, and some rolled products to protect domestic producers from cheap imports, according to local sources. The tariffs will be in place for nine months after they are officially introduced in the near future, sources ...

2009-01-20 03:31:30TMK Announces Production Results for 2008 For the year 2008, TMK shipped 3,227 thousand tn of steel pipes, representing a 5.0% increase over 2007 full year shipment volumes (‘’Shipped” refers to shipped from TMK plants for subsequent sale to customers). Volumes of shipped pipe products (thousands of tn) ...

2009-01-19 14:59:40Non-Ferrous Industry to Expect Growth in Demand and Prices Last year was hard for the non-ferrous industry: it began with growth in prices for non-ferrous metals which followed by a shear fall in prices and demand. Such a situation could not help affecting Russian companies: some such as Rusal, reduced output, others (e.g. Ufaleynickel) stopped ...

2009-01-19 11:44:13UC RUSAL announces management changes UC RUSAL announced the appointment of Oleg Deripaska as the company's CEO. His candidacy was proposed by EN+ and supported by other shareholders of RUSAL. Alexander Bulygin, who has until recently been the CEO of RUSAL, will move to chair the Board of Directors of EN+ Group, the main ...

2008-12-26 15:21:59ChTPZ Completes Acquisition of 100% of PNTZ In accordance with Article 84.8 of the Federal Law on Joint Stock Companies on December 25, 2008 OJSC Chelyabinsk Tube-Rolling Plant completed the procedure for the acquisition of 100% of the shares of OJSC Pervouralsk New Pipe Plant under its earlier mandatory offer to redeem the shares, ...

2008-12-24 11:36:30Construction is Impossible without Aluminium The world economic crisis has negatively affected the world construction industry: today many investment programs are held, there are difficulties with financing of current projects, metal and steel products purchase volumes are reduced etc. All this can not help affecting aluminium ...

2008-12-23 10:46:48Mechel reports Q1 2008 and 9 months financial results Mechel announced financial results for the first half ended June 30, 2008 and for the nine months ended September 30, 2008. — Revenues in the first nine months increased 84.7% to $8.6 bln — ...

2008-12-22 17:10:46UC RUSAL statement regarding the situation in Nigeria 20 December morning in Nigeria, in the southern part of Ikot Abasi town a group of militants attacked a township of UC RUSAL's employees, who work at Alscon aluminium smelter. Two employees have been kidnapped. The company is undertaking all possible measures to resolve the situation and ...

2008-12-22 10:00:49Evraz changes dividend policy Evraz Group announces that the Company’s Board of Directors has approved a change in Evraz’s dividend policy.Beginning with the final dividend for 2008, Evraz will pay dividends not exceeding 25% of its consolidated net income, as calculated under IFRS. Since the Company’s ...

2008-12-19 12:35:59TMK to Supply Premium Connections to Lukoil TMK announces today that it was awarded a contract by Lukoil for the supply of TMK FMC and TMK GF premium threaded connections. TMK Premium Service, the only Russian company to produce premium threaded connections, will supply Lukoil with OD 168 mm, 245 mm and 324 mm TMK FMC and GF ...

2008-12-19 11:18:00MetallInvest Owns Scientific and Research Institute Metalloinvest acquired a 99,01% share of «The City institution for designing metallurgical plants» (Gipromez LLC). The company’s experience in elaboration and realization of the projects on technical revamping and construction of the new steelmaking facilities will ...

2008-12-18 12:22:23OMZ affirmed KPMG as an auditor Joint Engineering Plants (OMZ) conducted the special meeting of holders, as it was informed. At the meeting the auditor (KPMG) and the deals of interest were approved. OMZ is the largest heavy engineering company working in the sector of the production, sale and servicing of the equipment ...

2008-12-18 11:33:34 PNTZ has produced the first batch of couplings for tubing and casing About 1000 couplings have been produced for tubing and casing within the commissioning at the coupling area of the Finishing Centre at Pervouralsk New Pipe Plant, which is part of the CHTPZ Group. The line for threading of couplings at the PNTZ Finishing Centre is fully automatic and ...

2008-12-17 16:11:13CIS and Russian HRC export offers down another $70 cfr Gulf Ukrainian and Russian exporters have lowered hot rolled coil offer prices to buyers in the Persian Gulf by a further $70 per tonne, but failed to attract new business, market players told MB. “Even if you come down with prices, there are no buyers,” one pipe producer source ...

2008-12-17 07:16:33TMK: Sixth in Annual Transparency and Disclosure Rating TMK took 6th place in Standard & Poor's annual Transparency and Disclosure Survey of the 90 largest publicly listed companies in Russia. TMK’s 2008 performance was a significant improvement over last year’s ranking. In 2007, in its first year as a public company, the ...

2008-12-16 12:51:13Evraz signs $800 mln loan with Vnesheconombank Evraz Group announced signing of a $800 mln loan with Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank (VEB).All the proceeds under this loan agreement were used to refinance the Company's short-term debt.As announced earlier, VEB approved ...

2008-12-16 11:09:25NLMK upgrades industrial water supply system NLMK has completed an upgrade of its industrial water supply system at its main site in Lipetsk. This will allow the Company to halve river water consumption, reduce waste water discharge into the river Voronezh by 10 times and achieve the best environmental indicators among Russian ...

2008-12-15 11:25:15MMC Norilsk Nickel is resuming the buyback of its outstanding shares On December 10, 2008 the Arbitration Court of Krasnoyarsk Territory issued a ruling lifting the previously adopted interim relief measures prohibiting OJSC MMC Norilsk Nickel (hereinafter – MMC Norilsk Nickel or the Company) and its registrar from implementing the resolution of the ...

2008-12-15 10:23:57MMK IFRS Results for the 9 Months Key 9 months 2008 Financial Highlights Revenue up by 49% to $ 9.182bln year-on-year EBITDA for the period up by 41% to $ 2.673bln year-on-year 9 months EBITDA margin at 29.1% Net income up by 42% to US$ 1.483bln year-on-year Total debt at $ 1.478bln, net debt at $ 372mln ...

2008-12-10 11:24:17NLMK agrees to sell stake in Tuapse Seaport Novolipetsk steel has announced that it has agreed to sell its 69.41 % share in OJSC Tuapse Seaport (TMTP) to Universal Cargo Logistics Holding B.V. (UCLH). The transaction is subject to antitrust regulatory approval and is expected to close in two months. This divestiture is in ...

2008-12-09 12:27:31UC RUSAL invests almost $35 mln UC RUSAL has announced an expansion of the RA-400 pilot area at the Sayanogorsk Aluminium Smelter to test several new RA-400T cells that will be used at the Taishet aluminium smelter, which is currently under construction. The RA-400T upgrade and operational testing programme has cost the ...

2008-12-09 10:28:44Mechel obtains credit lines from VTB Bank VTB Bank has opened one-year credit lines totaling 15 billion rubles for Yakutugol OJSHC, Southern Kuzbass Coal Company and CMK, subsidiaries of Mechel. The credit facilities will be used to fund the operations of these subsidiaries. The establishment of the credit line is a continuation of ...

2008-12-05 10:19:05Evraz Board elects Alexander Abramov new Chairman Evraz Group announced the election of Alexander Abramov as Chairman of Evraz's Board of Directors. He succeeds Alexander Frolov who will remain the Company’s CEO.Splitting the roles of Chairman and CEO will ensure Evraz is best positioned to deliver the Company’s strategic and ...

2008-12-03 11:21:29TMK to Ship Premium Connections to Rosneft TMK announced that it signed a supply contract for TMK FMC Premium threaded casing with Rosneft. The premium grade tubulars will be used in the development of the Vankor oil and gas field located in eastern Siberia. The agreement was signed between TMK Premium Service and Rosneft ...

2008-11-28 05:01:40Victor Rashnikov: We Have Everything Necessary for Overcoming the Crisis Victor Rashnikov, Chairman of the OJSC MMK Board of Directors, emphasized the Company's advantages which will contribute to overcoming the current financial and economic crisis. According to the Company's CEO, one of the Company's most important advantages is the fact that in recent years ...